UNITED STATES SECURITIES & EXCHANGE COMMISSION
Litigation Release No. 15970 / November 6, 1998
SECURITIES AND EXCHANGE COMMISSION v. HAROLD FITZGERALD LENFEST and
MARGUERITE LENFEST, Civil Action No. 95-CV-7597 (JCJ) (E.D. Pa)
The Securities and Exchange Commission (the "Commission") today
announced that on October 28, 1998, Judge Curtis Joyner of the
Eastern District of Pennsylvania entered a civil judgment, after
trial, finding Harold Lenfest and Marguerite Lenfest not liable for
the securities law violations charged by the Commission.
In its complaint, the Commission alleged that in October 1993,
the Lenfests violated Section 10(b) of the Securities Exchange Act of
1934, and Rule 10b-5, thereunder, by purchasing and recommending the
securities of Tele-Communications, Inc. ("TCI"), while in possession
of material, nonpublic information concerning a proposed merger
between TCI and Bell Atlantic Corporation ("Bell Atlantic").
For further information concerning SEC v. Harold FitzGerald
Lenfest and Marguerite Lenfest, see SEC Litigation Release Nos. 14747
(December 6, 1995) and 15200 (December 30, 1996).